Monetary Literacy Deficiencies May Cripple State’s Financial Development
Nationwide — A groundbreaking evaluation of Charles County’s monetary literacy curriculum has revealed a disaster that threatens the financial way forward for Maryland’s youngsters and the state’s aggressive place within the world financial system. The excellent 100+ web page examine, formally requested by Charles County Board of Training member Dottery Butler-Washington, has uncovered that college students obtain solely 45% of required monetary schooling—leaving them dangerously unprepared for monetary decision-making in maturity.
The unbiased evaluation, performed as a complimentary service by G1 Funding, LLC, highlights crucial deficiencies that reach far past classroom schooling:
• Wealth-building information hole (64% deficiency) — leaving college students with out important abilities to construct property and create intergenerational wealth
• Threat administration understanding (68% deficiency) — creating future adults who can not adequately shield themselves towards monetary disaster
• Elementary schooling (grades 3-5) reveals an alarming 62% deficiency charge — failing youngsters on the essential early levels of monetary socialization
“With out correct implementation of those requirements, our kids face probably devastating monetary penalties, and Maryland’s financial development will likely be stunted,” stated Troy Smith, Founder and CEO of G1 Funding, LLC. “This isn’t merely an schooling challenge—it’s an financial growth emergency with implications for each Maryland household.”
Glenarden Mayor Champions Instant Motion
Mayor Dr. Cashenna A. Cross, H.C., has stepped ahead as G1 Funding’s official Prince George’s Champion for the Nationwide Monetary Literacy Evaluation Initiative, committing to launch Glenarden as a daring pilot web site for statewide monetary literacy reform.
“The numbers are loud—however management should be louder,” says Dr. Cross. “The long run is NOW. And Glenarden isn’t just taking part—we’re setting the tempo for financial fairness throughout this nation.”
As a U.S. Air Power veteran with 26 years of service and Division of Protection Monetary Administration Stage II certification, Dr. Cross brings unmatched fiscal perception to the initiative. Below her administration, Glenarden has already superior key priorities recognized within the G1 report: wealth-building, senior and youth monetary schooling, veteran entrepreneurship, and culturally responsive neighborhood funding.
“We’re not simply closing gaps—we’re constructing generational wealth,” provides Mayor Cross, whose motto, “#MovingTheMissionForward,” displays her dedication to reworking monetary literacy right into a software for lasting change.
A Name to Motion For Maryland Dad and mom
The evaluation presents a stark actuality for fogeys: regardless of Maryland’s robust monetary literacy requirements on paper, youngsters are receiving lower than half the monetary schooling required by regulation. The implications of this instructional failure are dire:
• Kids missing wealth-building information are 47% extra prone to fall sufferer to predatory lending
• College students with out complete monetary schooling earn 16.4% much less over their lifetimes
• Communities with poor monetary literacy present 32% increased foreclosures charges, immediately impacting property values
With robust neighborhood assist from native commissioners, mayors, delegates, and dad or mum advocacy teams, this evaluation serves as a wake-up name for Maryland households involved about their youngsters’s future monetary well-being.
Financial Imperatives For State Management
The analysis particulars how correct monetary literacy schooling serves as a strong financial growth software with measurable returns on funding:
• 12-15% improve in small enterprise formation inside 8 years of implementation• 7-9% discount in public help prices inside 10 years• 28% decrease chapter submitting charges in communities with strong monetary schooling
The report’s complete five-phase implementation plan presents a transparent roadmap for addressing these deficiencies, with projected 10-year outcomes together with:
• 27% improve in new small enterprise formation• 31% discount in chapter filings• 56% improve in faculty financial savings plan participation• 47% discount in predatory lending exercise
“This represents a historic alternative for Maryland’s management to place our state on the forefront of monetary schooling and financial growth,” Smith added. “The info clearly demonstrates this needs to be seen not as an academic expense, however as a strategic financial funding with substantial and measurable returns for Maryland households and companies.”
Statewide Implications Warrant Governor’s Consideration
Whereas initially centered on Charles County, the findings recommend comparable deficiencies doubtless exist statewide, creating an pressing want for a complete audit of monetary literacy schooling throughout Maryland. With its strong requirements and numerous financial panorama, Maryland is uniquely positioned to develop into a nationwide chief on this crucial space.
The methodology used to conduct this evaluation has been particularly designed for utility throughout all 50 states. G1 Funding has established a Nationwide Monetary Literacy Evaluation Initiative with the objective of conducting comparable analyses nationwide to determine curriculum gaps and financial alternatives.
A press convention that includes key neighborhood leaders and schooling officers will likely be held on Thursday, Might 1, 2025, at 11:00 AM on the Woodmore City Middle at Glenarden, in collaboration with City Edge Properties, the procuring heart house owners, to current detailed findings and focus on implications for Maryland households and the state’s financial future.
AboutG1 Funding, LLC is a monetary providers and neighborhood growth agency devoted to enhancing financial alternative via monetary literacy and schooling. The agency’s Nationwide Monetary Literacy Evaluation Initiative goals to rework monetary schooling throughout America by figuring out curriculum gaps and implementing economically impactful options.
For press inquiries, contact Troy Smith at tsmith@g1investment.com
Word to Editors: The complete 100+ web page evaluation is out there upon request. The report contains detailed mapping of present curriculum towards state requirements, particular suggestions for addressing every deficiency, implementation timelines, and financial affect projections. Details about the Nationwide Monetary Literacy Evaluation Initiative and its utility to different states can also be obtainable.
